Onyx Bridge Wealth Group LLC Reduces Stake in Alphabet Inc. $GOOGL

Onyx Bridge Wealth Group LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 15.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 14,368 shares of the information services provider’s stock after selling 2,535 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Alphabet were worth $2,532,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Steel Grove Capital Advisors LLC lifted its holdings in Alphabet by 104.6% in the 2nd quarter. Steel Grove Capital Advisors LLC now owns 252,272 shares of the information services provider’s stock worth $44,458,000 after buying an additional 128,986 shares during the period. Members Trust Co lifted its holdings in Alphabet by 27.0% in the 2nd quarter. Members Trust Co now owns 6,213 shares of the information services provider’s stock worth $1,095,000 after buying an additional 1,320 shares during the period. Family Capital Management Inc. lifted its holdings in Alphabet by 35.1% in the 2nd quarter. Family Capital Management Inc. now owns 10,044 shares of the information services provider’s stock worth $1,770,000 after buying an additional 2,608 shares during the period. Phillips Financial Management LLC lifted its holdings in Alphabet by 10.2% in the 2nd quarter. Phillips Financial Management LLC now owns 7,864 shares of the information services provider’s stock worth $1,386,000 after buying an additional 728 shares during the period. Finally, OMC Financial Services LTD lifted its holdings in Alphabet by 1.2% in the 2nd quarter. OMC Financial Services LTD now owns 33,457 shares of the information services provider’s stock worth $5,896,000 after buying an additional 397 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GOOGL shares. Needham & Company LLC increased their price objective on Alphabet from $260.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday. HSBC raised their target price on Alphabet from $295.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday. DZ Bank restated a “buy” rating on shares of Alphabet in a research note on Thursday. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Finally, Guggenheim raised their target price on Alphabet from $280.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $302.20.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the sale, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at approximately $598,149,304. The trade was a 1.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 246,150 shares of company stock valued at $55,805,379 in the last 90 days. Corporate insiders own 11.64% of the company’s stock.

Alphabet Stock Down 0.1%

GOOGL stock opened at $281.31 on Friday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $291.59. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.40 trillion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. The business has a 50 day moving average of $244.00 and a 200 day moving average of $199.98.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. On average, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.